Blue Note Therapeutics Raises $5.2M in Additional Series A Funding
SAN FRANCISCO, Sept. 9, 2021 /PRNewswire/ -- Blue Note Therapeutics raised an additional $5.2 million in Series A financing, bringing the company's Series A financing to a total of $31 million. The financing was provided by Memorial Sloan Kettering Cancer Center (MSK) and Alumni Ventures who joined Series A lead investors JAZZ Venture Partners and Summer VC.
The additional proceeds will strengthen Blue Note's capacity to develop evidence-based therapeutics that serve an increasing number of cancer patients.
"Nearly half of all patients diagnosed with cancer experience some form of psychosocial distress but for far too many these symptoms go untreated," said Geoffrey Eich, CEO of Blue Note Therapeutics. "We are grateful for our new partners to help further Blue Note's efforts to expand access to evidence-based, cancer-specific treatments from the world's top cancer centers."
Read the Series A financing announcement here.
MSK has institutional financial interests related to Blue Note Therapeutics.
About Cancer-Related Distress
There are about 18 million cancer patients and survivors in the United States today 1. Nearly half of all cancer patients experience psychosocial distress, anxiety, or depression 2. If left untreated, these feelings can lower a cancer survivor's quality of life and may negatively affect survival 3. The National Comprehensive Cancer Network (NCCN) has established guidelines for the delivery of mental health care services in oncology, which include screening patients for signs of distress and implementing a treatment plan to address these needs with a mental health care specialist 4. Unfortunately, fewer than half of patients who experience cancer-related distress, which can be defined as any unpleasant feeling, emotion, or experience that affects a patient's quality of life or ability to cope with cancer diagnosis and treatment, are referred to mental health care specialists 5,6. Prescription digital therapeutics designed to treat cancer-related distress can help close this cancer treatment gap.
About Blue Note Therapeutics
Blue Note Therapeutics is a prescription digital therapeutics company singularly dedicated to patients suffering from cancer. We aim to make treatment accessible to any cancer patient, at any time, by merging deep scientific and clinical expertise, neuroscience, and digital innovation. Working closely with cancer research and patient communities, we are developing a pipeline of clinically validated prescription digital therapeutics to help reduce anxiety, depression, and other forms of cancer-related distress. For more information, visit www.bluenotetherapeutics.com.
About JAZZ Venture Partners
JAZZ Venture Partners invests in companies that extend the boundaries of human performance - improving how we live, learn, work, play, and experience the world. JAZZ seeks breakthroughs at the frontiers of technology and science, such as advances in artificial intelligence, neurobiology, augmented reality, and closed-loop human-computer systems. JAZZ portfolio companies are unlocking human potential in health, mind-body wellness, accelerated learning and training, sports, entertainment, and the enterprise. For more information, visit www.jazzvp.com.
About Prescription Digital Therapeutics (PDTs)
Prescription digital therapeutics (PDTs) are a therapeutic class of medical devices that use U.S. Food and Drug Administration (FDA) approvable software to treat diseases and conditions, such as anxiety and depression related to cancer diagnosis and treatment. Similar to prescription medicines, PDTs must demonstrate safety and efficacy in randomized clinical trials prior to their approval by the FDA.
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References
1 American Cancer Society. Cancer Facts & Figures 2020. https://www.cancer.org/content/dam/cancer-org/research/cancer-facts-and-statistics/annual-cancer-facts-and-figures/2020/cancer-facts-and-figures-2020.pdf.
2 Mehnert A, Hartung TJ, Friedrich M, et al. One in two cancer patients is significantly distressed: Prevalence and indicators of distress. Psychooncology. 2018;27:75-82.
3 Centers for Disease Control and Prevention. Anxiety and Depression Medicine Use Among Cancer Survivors. https://www.cdc.gov/cancer/dcpc/research/articles/anxiety_dep_med_survivors.htm.
4 National Comprehensive Cancer Network. Distress Management, Version 3.2019, NCCN Clinical Practice Guidelines in Oncology. https://jnccn.org/view/journals/jnccn/17/10/article-p1229.xml.
5 OncoLink. What is Cancer Related Distress? https://www.oncolink.org/support/practical-and-emotional/coping-communication-concerns/what-is-cancer-related-distress.
6 American Cancer Society. Cancer Treatment & Survivorship Facts & Figures 2019-2021. https://www.cancer.org/content/dam/cancer-org/research/cancer-facts-and-statistics/cancer-treatment-and-survivorship-facts-and-figures/cancer-treatment-and-survivorship-facts-and-figures-2019-2021.pdf.
SOURCE Blue Note Therapeutics, Inc.
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